According to a recent article written on Trulia.com, by Jed Kolko, it appears as though homebuyers are consistently making the move from cities to the suburbs. Perhaps it is because these specific people are getting older and are looking to buy in the nicer suburbs outside of the cities in which they work to provide a better lifestyle for their family. However, this doesn’t account for all of the younger folks that may be looking to move into the cities which can only mean one thing; people looking to buy are moving away from the city lifestyle.
Funny, however, that the same people that are moving to the suburbs and Central Pennsylvania from places like Philadelphia and Pittsburgh must not be severly concerned about job availability. Studies have shown that job availability during the current economy have proven to be lower in smaller metros than in the big cities. While this is no surprise, it is interesting that people are willing to sacrifice convenience and proximity to jobs and shops for a little more living space in the metros.
This makes it apparant that this trend of people moving out of the cities and into the suburban areas will only grow in the near future. With mortgage rates at record lows and housing affordability within peoples reach, we will surely see suburban sprawl at an excess level in the future. What does this mean? Places like Central Pennsylvania that are swarming with new housing and affordable options may be the new hot spots for real estate. This is exciting news for everyone as it implies increased home prices in the future and a buyers market today.
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